Instrument Transformer Market Trends, Comprehensive Analysis |Industry Forecast To 2023

Instrument transformer market Research Report- Forecast to 2023

Instrument Transformer Market Trends, Comprehensive Analysis |Industry

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Copyright Š 2018 Market Research Future.

Instrument transformer market Research Report- Forecast to 2023

1 Summary On the basis of regions, Asia Pacific dominates the global instrument transformer market followed by Europe and North America. It is expected to be the fastest growing region for the market. India, South Korea, Indonesia, and Singapore are the other major countries in Asia Pacific region. These countries have recently witnessed rapid industrialization & urbanization, which resulted in the growth and expansion of electrical infrastructure.

Most of the African nations are currently witnessing economic growth due to huge foreign investments in developing industrialization sector and expanding energy generation capacity through renewable resources.

Africa is expected to hold one the largest share in the Middle East & Africa segment for the transformer due to huge expansion in the energy generation and grid expansion.

Key Players: The prominent players in the global instrument transformer market include are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India), Rakesh Transformer Industries Pvt. Ltd (India), JSHP Transformers (China), Synergy Transformers (India), Transformers & Rectifiers Ltd (India), PME Power Solutions Limited (India), and SPX Transformer Solutions, Inc. (U.S.A).

2 Market Overview Instrument transformers are electrical devices used to transform or isolate current or voltage levels with high accuracy. They are used in AC systems for measurement of electrical parameters such as current,

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Copyright Š 2018 Market Research Future.

Instrument transformer market Research Report- Forecast to 2023

voltage, energy, power factor, and frequency. On the basis of regions, global instrument transformer market is segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific region dominates the global instrument transformer market. The continuous need to update and upgrade existing distribution infrastructure to serve the growing demand for electricity, will lead to high growth of the instrument transformer market over the forecast period. In the emerging economies of Asia Pacific, extensive power plant capacity additions, economic growth, and the need to improve access to electricity, are driving grid expansion and the instrument transformer market. China, Japan, India, Australia and Indonesia are the major markets in Asia Pacific. China accounts for the largest market share in the Asia Pacific region, mainly due to rapid growth in urbanization and industrial development.

Market Segmentation

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Copyright Š 2018 Market Research Future.

Instrument transformer market Research Report- Forecast to 2023

3 Market Research Analysis Global instrument transformer market has been segmented based on rating, Enclosure Type, end-user and region. Based on rating, instrument transformer market has been divided into distribution voltage, subtransmission voltage, high voltage transmission and extra high voltage transmission. Distribution voltage is expected to be the fastest growing rating segment of the market.

The sector contains companies such as electric, gas and water firms, and integrated providers. Because utilities require significant infrastructure, these firms require heavy electrical equipment for efficient performance and production of the energy. The global growth in the conventional and non-conventional power plants are creating a huge scope for the transformer market development. Industrial transformer acts as a power transmission and distribution equipment in the utility sector, which step-up or set-down the current voltage as per the end-user requirement.

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Copyright Š 2018 Market Research Future.

Instrument transformer market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.